New Mexico Educational Retirement Board lowered its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,800 shares of the technology company’s stock after selling 1,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Blackbaud were worth $616,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. First Hawaiian Bank grew its position in shares of Blackbaud by 75.5% during the fourth quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock worth $27,000 after purchasing an additional 188 shares in the last quarter. FMR LLC purchased a new stake in shares of Blackbaud during the third quarter worth about $129,000. Jane Street Group LLC purchased a new stake in shares of Blackbaud during the third quarter worth about $203,000. NJ State Employees Deferred Compensation Plan grew its position in shares of Blackbaud by 33.3% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 4,000 shares of the technology company’s stock worth $252,000 after purchasing an additional 1,000 shares in the last quarter. Finally, BSW Wealth Partners purchased a new stake in shares of Blackbaud during the third quarter worth about $265,000.
BLKB has been the subject of several research analyst reports. Zacks Investment Research cut Blackbaud from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Stephens started coverage on Blackbaud in a report on Wednesday, January 16th. They set an “overweight” rating and a $86.00 price target for the company. DA Davidson cut their price target on Blackbaud to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 3rd. Robert W. Baird cut their price target on Blackbaud from $105.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, October 12th. Finally, BidaskClub cut Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $87.38.
NASDAQ BLKB opened at $72.26 on Friday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 6.03 and a beta of 1.21. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.74 and a quick ratio of 0.66. Blackbaud, Inc. has a 1-year low of $58.23 and a 1-year high of $120.35.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, February 6th. The technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.10. The business had revenue of $221.79 million during the quarter, compared to analysts’ expectations of $220.40 million. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. As a group, research analysts forecast that Blackbaud, Inc. will post 1.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date is Tuesday, February 26th. Blackbaud’s dividend payout ratio is presently 25.67%.
In other news, Director Timothy C. K. Chou sold 1,000 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $70.88, for a total value of $70,880.00. Following the completion of the transaction, the director now owns 21,264 shares in the company, valued at approximately $1,507,192.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.55% of the stock is currently owned by insiders.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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